BEKAUW: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BEKAUW
Largest movements
- Cash +€10.9m
up €10.9m (+3,369%), from €324,154 to €11.2m
mainly Net result for the year (+€6.5m) and Current investments (+€4.4m)
- Current investments -€4.4m
down €4.4m (-60.1%), from €7.3m to €2.9m
- Reserves +€6.5m
up €6.5m (+60.4%), from €10.8m to €17.3m
of which Distributable reserves: +€6.5m
- Financial income +€5.1m
up €5.1m (+354%), from €1.4m to €6.5m
- Gross operating margin +€14,513
up €14,513 (+32.4%), from -€44,747 to -€30,234
- Write-downs -€10,000
no longer reported in 2025 (was €10,000)
- Financial charges +€1,866
up €1,866 (+179%), from €1,044 to €2,910
- Depreciation -€728
down €728 (-43.4%), from €1,677 to €949
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,450,962 | €17,847,665 | +€6.4m | +55.9% |
| Fixed assets | 21/28 | €3,275,474 | €3,274,525 | -€949 | 0.0% |
| Tangible fixed assets | 22/27 | €9,309 | €8,360 | -€949 | -10.2% |
| Other tangible fixed assets | 26 | €9,309 | €8,360 | -€949 | -10.2% |
| Financial fixed assets | 28 | €3,266,165 | €3,266,165 | = | 0.0% |
| Current assets | 29/58 | €8,175,488 | €14,573,139 | +€6.4m | +78.3% |
| Amounts receivable within one year | 40/41 | €130,360 | €75,982 | -€54,378 | -41.7% |
| Trade receivables | 40 | €130,360 | €67,890 | -€62,470 | -47.9% |
| Other amounts receivable | 41 | - | €8,092 | +€8,092 | |
| Current investments | 50/53 | €7,345,753 | €2,930,753 | -€4.4m | -60.1% |
| Cash at bank and in hand | 54/58 | €324,154 | €11,244,418 | +€10.9m | +3,369% |
| Deferred charges and accrued income | 490/1 | €375,221 | €321,986 | -€53,235 | -14.2% |
| Total equity and liabilities | 10/49 | €11,450,962 | €17,847,665 | +€6.4m | +55.9% |
| Equity | 10/15 | €11,268,022 | €17,771,577 | +€6.5m | +57.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €10,768,022 | €17,271,577 | +€6.5m | +60.4% |
| Non-distributable reserves | 130/1 | €3,070,193 | €3,070,193 | = | 0.0% |
| Legal reserve | 130 | €139,440 | €139,440 | = | 0.0% |
| Own shares acquired | 1312 | €2,930,753 | €2,930,753 | = | 0.0% |
| Distributable reserves | 133 | €7,697,829 | €14,201,384 | +€6.5m | +84.5% |
| Amounts payable | 17/49 | €182,941 | €76,088 | -€106,853 | -58.4% |
| Amounts payable within one year | 42/48 | €182,941 | €63,497 | -€119,443 | -65.3% |
| Trade debts | 44 | €157,165 | €46,915 | -€110,251 | -70.1% |
| Suppliers | 440/4 | €157,165 | €46,915 | -€110,251 | -70.1% |
| Taxes, remuneration and social security | 45 | €4,085 | €11,393 | +€7,307 | +179% |
| Taxes | 450/3 | €4,085 | €11,393 | +€7,307 | +179% |
| Other amounts payable | 47/48 | €21,690 | €5,190 | -€16,500 | -76.1% |
| Accrued charges and deferred income | 492/3 | - | €12,591 | +€12,591 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,677 | €949 | -€728 | -43.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €1,377 | €744 | -€633 | -46.0% |
| Gross operating margin | 9900 | -€44,747 | -€30,234 | +€14,513 | +32.4% |
| Operating profit (loss) | 9901 | -€57,802 | -€31,927 | +€25,875 | +44.8% |
| Financial income | 75/76B | €1,440,234 | €6,542,892 | +€5.1m | +354% |
| Recurring financial income | 75 | €1,440,234 | €6,542,892 | +€5.1m | +354% |
| Financial charges | 65/66B | €1,044 | €2,910 | +€1,866 | +179% |
| Recurring financial charges | 65 | €1,044 | €2,910 | +€1,866 | +179% |
| Profit (loss) for the period before taxes | 9903 | €1,381,389 | €6,508,055 | +€5.1m | +371% |
| Profit (loss) for the period | 9904 | €1,381,389 | €6,508,055 | +€5.1m | +371% |
| Profit (loss) for the period to be appropriated | 9905 | €1,381,389 | €6,508,055 | +€5.1m | +371% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 24 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.